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Bulletin: Ratings On Japan Tobacco Unaffected By Acquisition Of Katokichi
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
TOKYO (Standard & Poor's) Nov. 22, 2007--Standard & Poor's Ratings Services said today that its ratings on Japan Tobacco Inc. (JT, A+/Stable/--) would not be affected by the company's acquisition of Katokichi Co. Ltd. (NR), Japan's leading frozen food maker. The acquisition, made jointly with Nissin Food Products Co. Ltd. (NR), Japan's leading instant noodle maker, is in line with JT's efforts to enhance its domestic food business under its medium-term management plan. In addition, the financial burden of external financing used to cover the acquisition cost is expected to have only a limited adverse effect on JT's financial profile. JT will launch a tender offer bid (TOB) of -710 per share on Nov. 28, 2007, targeting the acquisition of...
Companies mentioned in this report are: Japan Tobacco Inc.
Action: Bulletin
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